Real Estate Minute: Avoid Making Basic Tax Mistakes

When it comes to filing your tax return, making a mistake can cost you big-time. And according to the IRS, it’s so easy to make a mistake and tax returns completed by hand often contain at least one error.

So here are some ways to avoid making those common mistakes.

First, file your return electronically. Most of us can file electronically for free at IRS.gov, but you may have to pay a small amount to file your state return. Filing electronically means you will probably make fewer errors. If you use software like Turbo Tax, you can fill out the form on your computer, keep the information from year-to-year and avoid making mistakes.

Next, if you’re going to mail your return, use the peel-off label, instead of writing the address. Be sure your social security number is correctly filled in at the right spot. Check only one filing status on the tax return and the appropriate exemption boxes.

If you’re requesting a direct deposit of your refund – which is the smartest way to go – be sure the routing numbers are correct.